Wednesday, August 01, 2007

BBC: Murdoch wins fight for Dow Jones

BBC NEWS | Business | Murdoch wins fight for Dow Jones: "Media tycoon Rupert Murdoch has won his battle to buy US media giant Dow Jones, publisher of the Wall Street Journal.

His News Corporation firm has secured the deal for $5.6bn (�2.7bn), or $60 a share - a 65% premium to Dow's share price before the bid was announced.

The agreement comes after Mr Murdoch received the required level of support from the Bancroft family, who hold the majority of Dow Jones' shares.

It ends the Bancrofts' 100-year stewardship of the Dow Jones."


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